GRI Bio Announces Reverse Stock Split
GRI’s common stock is expected to begin trading on a post-split adjusted basis on June 18, 2024
LA JOLLA, CA, June 14, 2024 (GLOBE NEWSWIRE) — GRI Bio, Inc. (NASDAQ:GRI) (“GRI Bio” or the “Company”), a biotechnology company advancing an innovative pipeline of Natural Killer T (“NKT”) cell modulators for the treatment of inflammatory, fibrotic and autoimmune diseases, today announced that the board of directors of the Company approved a 1-for-13 reverse stock split (the “Reverse Split”) of the Company’s common stock. The Reverse Split was approved by the stockholders of the Company at a special meeting of the Company held on June 7, 2024. The Reverse Split will legally take effect at 4:01 p.m. Eastern Time, on June 17, 2024. The Company’s common stock will open for trading under a new CUSIP number 3622AW 304 on The Nasdaq Capital Market on June 18, 2024, on a split-adjusted basis under the current ticker symbol “GRI.” The Reverse Split is intended to increase the per share trading price of the Company’s common stock to enable the Company to regain compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market.